IMG Media Ltd. Sells Shares of Bragg Gaming

LONDON, United Kingdom, Jan. 20, 2021 /CNW/ - IMG Media Ltd. announced today that on January 19, 2021 it sold 220,560 common shares ("Shares") of Bragg Gaming Group Inc. ("Bragg Gaming") through the facilities of the over-the-counter market in the United States for aggregate consideration of US$412,828.56, which represents an average sale price of approximately US$1.87 per Share.

In April 2017, IMG Media Ltd. acquired 3,985,570 Shares, which represented approximately 14.5% of the outstanding Shares at such time (Bragg Gaming was then known as Breaking Data Corp). As a result of additional Share issuances by Bragg Gaming during the intervening period, the 3,985,570 Shares held by IMG Media Ltd. represented approximately 3.38% of the outstanding Shares immediately before the sale announced today (based on the 117,948,396 Shares presumed to be outstanding as of January 13, 2021, being the sum of (i) the 2,479,335 Shares issued in connection with the non-brokered private placement disclosed by Bragg Gaming in its Material Change Report dated January 15, 2021, and (ii) the 115,469,061 Shares that Bragg Gaming disclosed were outstanding as of November 23, 2020 in its Management Discussion & Analysis for the three and nine-month periods ended September 30, 2020).

IMG Media Ltd. continues to hold 3,765,010 Shares, which represent approximately 3.19% of the outstanding Shares (based on the 117,948,396 Shares presumed to be outstanding as of January 13, 2021). Accordingly, the 220,560 Shares sold by IMG Media Ltd. resulted in a decrease in its ownership percentage in the Shares of Bragg Gaming of approximately 0.19%. IMG Media Ltd. holds Shares in Bragg Gaming for investment purposes and may from time to time, depending on market conditions, developments affecting Bragg Gaming and its business, and other business or investment opportunities that may arise, acquire additional Shares or other securities of Bragg Gaming or dispose of some or all of its Shares through market transactions, private agreements or otherwise.

IMG Media Ltd. will file an early warning report in accordance with applicable securities laws under Bragg Gaming's issuer profile on SEDAR at www.sedar.com. A copy of such report can also be obtained by contacting Robert Hilton at (212) 586-5100.

SOURCE IMG Media Ltd.